Diversified Trust Co Sells 6,073 Shares of Johnson & Johnson (NYSE:JNJ)

Diversified Trust Co cut its stake in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 5.2% in the second quarter, Holdings Channel reports. The fund owned 111,283 shares of the company’s stock after selling 6,073 shares during the period. Johnson & Johnson comprises approximately 0.8% of Diversified Trust Co’s holdings, making the stock its 20th biggest position. Diversified Trust Co’s holdings in Johnson & Johnson were worth $19,754,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JNJ. Norges Bank bought a new position in shares of Johnson & Johnson during the 4th quarter valued at about $4,172,929,000. BlackRock Inc. lifted its stake in Johnson & Johnson by 2.6% in the 4th quarter. BlackRock Inc. now owns 200,021,352 shares of the company’s stock valued at $34,217,654,000 after acquiring an additional 4,982,885 shares in the last quarter. GQG Partners LLC lifted its stake in Johnson & Johnson by 1,109.4% in the 4th quarter. GQG Partners LLC now owns 3,954,383 shares of the company’s stock valued at $676,375,000 after acquiring an additional 3,627,424 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Johnson & Johnson by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock worth $42,205,749,000 after purchasing an additional 3,358,478 shares during the last quarter. Finally, State Street Corp increased its position in shares of Johnson & Johnson by 1.8% during the 4th quarter. State Street Corp now owns 144,677,639 shares of the company’s stock worth $24,750,004,000 after purchasing an additional 2,492,359 shares during the last quarter. 68.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Citigroup lowered their price target on Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. Wells Fargo & Company upped their price objective on Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, July 13th. Daiwa Capital Markets began coverage on Johnson & Johnson in a report on Wednesday, June 22nd. They issued an “outperform” rating on the stock. UBS Group decreased their price objective on Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Finally, Morgan Stanley cut their target price on Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating for the company in a research report on Monday, September 12th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $189.78.

Johnson & Johnson Trading Up 1.8 %

Shares of JNJ stock opened at $166.18 on Friday. The stock has a market cap of $436.92 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 2.95 and a beta of 0.61. The stock has a 50-day moving average of $168.06 and a 200-day moving average of $174.12. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37. Johnson & Johnson has a 1-year low of $155.72 and a 1-year high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.02. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The firm had revenue of $24.02 billion during the quarter, compared to analysts’ expectations of $23.85 billion. During the same quarter last year, the firm posted $2.48 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Johnson & Johnson will post 10.7 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were given a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is presently 65.79%.

Johnson & Johnson declared that its Board of Directors has authorized a stock buyback plan on Wednesday, September 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

About Johnson & Johnson

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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